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For a married couple with no children;
If one spouse dies and provided no use of their tax free allowance has been used, does the allowance then pass to the living partner totalling £65k for disposal on their death according to their will?
Comments
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Yes, but I think you mean £650K (£325K x2).
Not having children isn't relevant. It would be relevant in respect of the Nil Residence Band, a further allowance which can be used if the main residence is left to a direct descendant (child/grandchild).
Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!0 -
Thank you Marcon, excuse the typo.
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Hi MooPa,
You might find our guidance on inheritance tax useful
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